Novartis: Barclays downgrades, citing challenges

(CercleFinance.com) - Novartis' biosimilar unit Sandoz is facing a mixed outlook while the whole group's pipeline calls for caution, Barclays said, downgrading the Swiss drugmaker's stock to "underweight.
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The broker - which upgraded the Novartis stock to "equal weight" in July - also notes that the company is continuing to see structural challenges for its flagship oncology franchise.

These comments sent the shares down in Zurich today, where they are currently falling 0.9% to 86.2 Swiss francs.

BarCap has a target price of 75 Swiss francs for the stock.

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